If you’re planning to sell your old home and buy a new one, you have to be careful as you might end up with two mortgages. Depending on the real estate market (hot means it’s a good time to sell; cold means it’s a good time to buy), you have to protect your dual role of buyer and seller. You also don’t want to end up homeless by selling earlier.

You can talk to your buyer about a putting a condition on the contract that states that you will be given time to find and buy a home before the house is turned over to the new owners. A month is usually enough time for you to close the deal on the house that you have been eyeing and moving in to your new home. On the other hand, if you are the buyer, it will be harder to make the seller agree to the condition of closing the sale after you have sold your old home. But communication is always the key, and some sellers will agree as long as their sale is protected.

If things don’t work out, you can always ask your family and friends for the loan just so you can bridge the gap between selling your old home and buying your new one.